Norges Bank Takes Position in Wix.com Ltd. $WIX

Norges Bank bought a new stake in Wix.com Ltd. (NASDAQ:WIX) during the 4th quarter, HoldingsChannel reports. The fund bought 657,363 shares of the information services provider’s stock, valued at approximately $68,293,000.

Several other hedge funds have also modified their holdings of WIX. Ameriprise Financial Inc. lifted its holdings in shares of Wix.com by 128.3% in the 3rd quarter. Ameriprise Financial Inc. now owns 4,637,795 shares of the information services provider’s stock valued at $823,813,000 after buying an additional 2,606,204 shares during the period. Wellington Management Group LLP lifted its holdings in shares of Wix.com by 90.4% in the 3rd quarter. Wellington Management Group LLP now owns 3,390,589 shares of the information services provider’s stock valued at $602,270,000 after buying an additional 1,609,989 shares during the period. Diamond Hill Capital Management Inc. acquired a new stake in shares of Wix.com in the 4th quarter valued at approximately $150,622,000. Durable Capital Partners LP acquired a new stake in shares of Wix.com in the 3rd quarter valued at approximately $183,286,000. Finally, Holocene Advisors LP acquired a new stake in shares of Wix.com in the 3rd quarter valued at approximately $115,982,000. 81.52% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have recently commented on WIX shares. Needham & Company LLC reduced their price target on Wix.com from $115.00 to $80.00 and set a “buy” rating for the company in a report on Thursday, May 14th. UBS Group reissued a “neutral” rating and issued a $68.00 price target on shares of Wix.com in a report on Thursday, May 14th. Robert W. Baird cut Wix.com from an “outperform” rating to a “neutral” rating and reduced their price target for the company from $115.00 to $90.00 in a report on Monday, March 9th. Morgan Stanley reduced their price target on Wix.com from $125.00 to $112.00 and set an “overweight” rating for the company in a report on Monday, May 18th. Finally, JPMorgan Chase & Co. reduced their price target on Wix.com from $91.00 to $86.00 and set an “underweight” rating for the company in a report on Wednesday, May 13th. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, eight have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $100.90.

Wix.com Stock Performance

Shares of WIX stock opened at $52.39 on Friday. The stock has a fifty day moving average price of $69.06 and a 200 day moving average price of $82.79. The stock has a market cap of $3.05 billion, a PE ratio of -67.17 and a beta of 0.91. Wix.com Ltd. has a 1 year low of $51.33 and a 1 year high of $190.93.

Wix.com (NASDAQ:WIX) last issued its quarterly earnings data on Wednesday, May 13th. The information services provider reported $0.68 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.21 by ($0.53). The firm had revenue of $541.17 million for the quarter, compared to analyst estimates of $544.04 million. Wix.com had a negative return on equity of 33.28% and a negative net margin of 1.97%.The business’s revenue for the quarter was up 14.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.69 earnings per share. As a group, equities research analysts predict that Wix.com Ltd. will post -0.27 earnings per share for the current year.

About Wix.com

Wix.com Ltd. operates a cloud-based platform that enables individuals and businesses to create, manage and develop professional web presences through an intuitive drag-and-drop interface. The company’s software-as-a-service model provides hosting, customizable templates and a range of design tools, eliminating the need for coding expertise. Users can choose from a variety of premium plans to access custom domains, enhanced storage, and advanced performance features tailored to personal projects, small businesses and online storefronts.

Beyond its core website builder, Wix offers a suite of complementary services designed to support digital growth and marketing.